The 17th edition of the European Championship is now underway, with 24 nations battling it out for continental glory this summer.
England are regarded as one of the favourites for this year's prestigious prize, while the likes of France, Portugal, Spain, the Netherlands, holders Italy and host nation Germany are also in contention to go all the way.
Euro 2024 began on June 14 when Germany thrashed Scotland 5-1 in their Group A opener, and the tournament runs until the final on July 14. Euro 2024 will feature a total of 51 games, including 36 in the group stage, before 16 nations enter the knockout rounds.
While one nation will celebrate a career-defining moment when they lift the Henri Delaunay Cup at Olympiastadion Berlin, every team will be battling for large sums of prize money throughout the tournament.
Here, Sports Mole takes a look at UEFA's prize money distribution system and how much each nation could earn from this summer's prestigious event.
Following the approval of the UEFA Executive Committee in December last year, the amount for distribution to the participating teams at Euro 2024 has been confirmed at a total of €331m (£282.87m) - the same as Euro 2020.
The 24 nations that have successfully qualified for Euro 2024 will automatically receive €9.25m (£7.93m) before a ball is even kicked.
Each team will receive a match bonus of €1m (£860,000) for a group-stage win and €500,000 (£429,000) for a draw, while there is no prize money awarded for a defeat. The minimum a nation could therefore earn is €9.25m (their participation reward) if they fail to win all three of their group-stage matches.
Every nation that advances to the round of 16 will receive €1.5m (£1.29m), and the reward for going deeper into the tournament will increase each round.
Teams that reach the quarter-finals will receive €2.5m (£2.14m), and €4m (£3.43m) will be awarded to those that progress to the semi-finals, while the champions of Euro 2024 will receive €8m (£6.86m). As for the losing finalist, they will go away with €5m (£4.29m).
The maximum a nation could earn from Euro 2024 is €28.25m (£24.23m) if they win every game en route to winning the tournament.
